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STARTUP OF THE MONTH


Algomi - uncovering the value in your hidden data


The IBS Journal team met up with Algomi at Sibos. We were impressed with its creative approach to the hidden swathes of data which most banks allow to lie fallow - so we followed up with some questions


Why did you decide to found Algomi?


The idea for Algomi came when I was working in the fixed income department of a major bank. I saw that there was an incredible amount of information about trades that was sitting in the head of a trader or in a notebook. While one trader was having problems executing an order, another colleague might know someone who had been trying to buy that same security the previous week. I knew there had to be a way to address this problem through technology.


How have you addressed problems in the fixed income market?


Corporate bond liquidity has been constrained since the financial crisis as banks have withdrawn from their traditional roles as large holders of inventory. What we are doing is enabling a new bond market to emerge, where it is easier for both the buy and sell-side to understand where inventory exists and how it can be traded without moving the market. We use technology pioneered in some of the most successful companies in the world to build and maintain networks that match people and relevant information.


We’ve done this through our Synchronicity product that captures information inside a bank, along with the Honeycomb network that shows buy-side managers signal information from dealers. This year we partnered with Euronext to create Euronext Synapse, an anonymous centralized inter-dealer marketplace powered by Algomi, and launched Algomi ALFA, which provides cross-market information on liquidity and trade intent.


What is your business model? We help participants in the fixed income space locate and sort


www.ibsintelligence.com | © IBS Intelligence 2017


Stu Taylor, CEO and co-founder Algomi


information that would be useful in making trading decisions. For sell-side institutions working with our Synchroncity product, we install our program (either directly onto servers or through our new cloud offering) physically inside the bank’s systems. The client owns the data and it does not leave the bank. Our clients pay an installation fee in addition to a monthly contract to use the platform.


Buy-side participants can access the Honeycomb network for a monthly fee, which integrates into order management systems and allows companies to search for availability inventory without moving the market.


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